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Industry News

Brent Crude Creeping Closer to $80/barrel

Brent crude, one of the leading indicators of oil prices around the world, was trading close to the $80 per barrel mark on Wednesday.

Both supply and demand for oil have created the perfect storm for oil prices to rise to the highest levels seen in recent years and are a sign that prices are set to increase further, breaking the $80/barrel mark.

With the renewed threat of US sanctions on Iran, and no increase in capacity forthcoming from OPEC or other oil producers, the industry is set to see prices maintain these levels into the busy northern summer trading season.

NRG Expert analysts have previously stated that the market remains volatile but the forecast trend should be that oil will not quite reach the $100/barrel barrier for another 2-3 years.

Green Energy Solutions Showing Promising Growth

Despite changes in policy for the US, green energy solutions for businesses and consumers continue to grow. Whereas there may be less regulatory incentive, green energy component suppliers remain optimistic about growth potential in the US.

With energy prices on the up, electric vehicles and home green energy solutions are becoming increasingly popular. Not only that, surveys by Deloitte have shown that the gap between environmental concern and consumer action is shrinking.

Growing concern about climate change, and the immediate effect increased energy prices have on consumer pocketbooks mean that green energy solutions are becoming more attractive to everyday consumers.